A Search Monetary Model with Uncertainty in Production and Futures Hedging

碩士 === 國立臺灣大學 === 經濟學研究所 === 100 === Futures contracts are widely used to hedge against risk caused by uncertainty in production when people decide on their production and trading strategies. By analyzing this phenomenon via a search monetary model with production shocks and a futures market, we ill...

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Bibliographic Details
Main Authors:	Chiao-Yin Chuang, 莊喬茵
Other Authors:	李怡庭
Format:	Others
Language:	en_US
Published:	2012
Online Access:	http://ndltd.ncl.edu.tw/handle/87204313278829671039

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spelling	ndltd-TW-100NTU053890262015-10-13T21:45:45Z http://ndltd.ncl.edu.tw/handle/87204313278829671039 A Search Monetary Model with Uncertainty in Production and Futures Hedging 具生產不確定性與期貨避險之貨幣搜尋模型 Chiao-Yin Chuang 莊喬茵碩士國立臺灣大學經濟學研究所 100 Futures contracts are widely used to hedge against risk caused by uncertainty in production when people decide on their production and trading strategies. By analyzing this phenomenon via a search monetary model with production shocks and a futures market, we illustrate that uncertainty in production is a crucial force behind agents''optimal choices when sellers produce in advance. Monetary policy has no impact on sellers'' production decisions when the economy su ers production shocks without a futures market. However, if agents can take positions in the futures market to hedge, monetary policy and the uncertainty in production influence production and trading in the spot market through the futures market because the use of futures contracts acting as insurance can reduce trading frictions and help agents share risk. Hence, welfare is improved in our model. 李怡庭 2012 學位論文 ; thesis 68 en_US
collection	NDLTD
language	en_US
format	Others
sources	NDLTD
description	碩士 === 國立臺灣大學 === 經濟學研究所 === 100 === Futures contracts are widely used to hedge against risk caused by uncertainty in production when people decide on their production and trading strategies. By analyzing this phenomenon via a search monetary model with production shocks and a futures market, we illustrate that uncertainty in production is a crucial force behind agents''optimal choices when sellers produce in advance. Monetary policy has no impact on sellers'' production decisions when the economy su ers production shocks without a futures market. However, if agents can take positions in the futures market to hedge, monetary policy and the uncertainty in production influence production and trading in the spot market through the futures market because the use of futures contracts acting as insurance can reduce trading frictions and help agents share risk. Hence, welfare is improved in our model.
author2	李怡庭
author_facet	李怡庭 Chiao-Yin Chuang 莊喬茵
author	Chiao-Yin Chuang 莊喬茵
spellingShingle	Chiao-Yin Chuang 莊喬茵 A Search Monetary Model with Uncertainty in Production and Futures Hedging
author_sort	Chiao-Yin Chuang
title	A Search Monetary Model with Uncertainty in Production and Futures Hedging
title_short	A Search Monetary Model with Uncertainty in Production and Futures Hedging
title_full	A Search Monetary Model with Uncertainty in Production and Futures Hedging
title_fullStr	A Search Monetary Model with Uncertainty in Production and Futures Hedging
title_full_unstemmed	A Search Monetary Model with Uncertainty in Production and Futures Hedging
title_sort	search monetary model with uncertainty in production and futures hedging
publishDate	2012
url	http://ndltd.ncl.edu.tw/handle/87204313278829671039
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A Search Monetary Model with Uncertainty in Production and Futures Hedging

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